banner_ad

cash receipt and payments as per income tax provision

This query is : Resolved 
Profile Image

Profile Image

(Querist)
09 September 2009 Dear Friends

Would you please what are the modalities or precausions to be taken while accepting the cash from Debtors and others and payments to creditors as per the provisions of Income Tax Act 1961
Profile Image

CA CHINTAN AJMERA

Profile Image

CA CHINTAN AJMERA (Expert)
09 September 2009 No precaustion is required for accepting cash but precaustion is require when u make payment to creditor for goods or creditor for exp. or unsecured loan, the payment can not exceed rs 20000 to the same person in one day.
Profile Image

Sreedhar Atchutuni ACA,GradCWA

Profile Image

Sreedhar Atchutuni ACA,GradCWA (Expert)
10 September 2009 yes, agree with expert
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now


CCI Pro
Join the CA Students WhatsApp Community for ICAI Updates, Trending Courses & Notes!


Similar Resolved Queries


loading


Unanswered Queries


banner

Trending Online Classes

view all classess

CCI Pro
Meet our CAclubindia PRO Members
Subscribe Now

Follow us
add to google news



Answer Query



Quick Links



Browse by Category




Latest Job Openings

View all
Company
Featured 02 May 2026
Senior Executive

hitesh chandwani & co

Pune

B.Com

View Details
Company
Featured 29 April 2026
Manager- Finance and Compliance

Naveen Fintech Pvt Ltd

Kolkata

CA Inter

View Details
Company
Featured 14 April 2026
GST CONSULTANT

Abhishek G Agrawal & Co.

Korba

CA Final

View Details
Company
Featured 13 April 2026
GST CONSULTANCY

Abhishek G Agrawal & Co.

Korba

CA Final

View Details
Company
Featured 28 March 2026
Accountant

Ashok Amol & Associates

New Delhi

B.Com

View Details
Company
Featured 28 March 2026
CA Final

Ashok Amol & Associates

New Delhi

CA Final

View Details
Company
Featured ARTICLESHIP 19 March 2026
Article Assistant

Gupta Sachdeva & Co. Chartered Accountants

New Delhi

CA Final

View Details
Company
Featured 14 March 2026
Associate CA

N N V Satish&co

Hyderabad

CA

View Details